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{"id":478255,"date":"2021-12-07T03:08:33","date_gmt":"2021-12-07T03:08:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=478255"},"modified":"2024-06-11T14:09:35","modified_gmt":"2024-06-11T14:09:35","slug":"bitcoin-reclaims-50k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-reclaims-50k\/","title":{"rendered":"TA: Bitcoin Reclaims $50K, Why 100 SMA Is The Key For Larger Increase"},"content":{"rendered":"

Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher.<\/em><\/p>\n

\n
Bitcoin started a recovery wave above the key $50,000 resistance zone.<\/li>\n
The price is now trading near $51,000 and the 100 hourly simple moving average.<\/li>\n
There is a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a decent upward move if there is a close above $51,000.<\/li>\n<\/ul>\n
Bitcoin Price Gains Momentum<\/h2>\n
Bitcoin price started a decent recovery wave<\/a> after a major decline below $45,000. BTC climbed back above the $46,500 and $48,000 resistance levels to start the recent recovery.<\/p>\n
The price is back above the $49,200 resistance level. There as a break above the 50% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. Besides, the bulls were able to push the price above the key $50,000 resistance zone.<\/p>\n
There is also a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC\/USD pair. The pair is now trading near $51,000 and the 100 hourly simple moving average<\/a>.<\/p>\n
An immediate resistance on the upside is near the $51,000 level and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. A clear break above the $51,000 resistance zone could open the doors for more upsides.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
The next key resistance is near the $52,500 level, above which the price could accelerate higher. In the stated case, the price could rise towards the $53,500 level.<\/p>\n
Fresh Decline In BTC?<\/h2>\n
If bitcoin fails to clear the $51,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,200 level.<\/p>\n
The first major support is now forming near the $49,600 level and the trend line. A downside break below the $49,600 support may perhaps start a fresh decline. The next stop for the bears might be $46,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently above the 50 level.<\/p>\n
Major Support Levels \u2013 $50,200, followed by $49,600.<\/p>\n
Major Resistance Levels \u2013 $51,000, $52,500 and $53,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher. Bitcoin started a recovery wave above the key $50,000 resistance zone. The price is now trading near $51,000 and the 100 hourly simple moving average. There is a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a decent upward move if there is a close above $51,000. Bitcoin Price Gains Momentum Bitcoin price started a decent recovery wave after a major decline below $45,000. BTC climbed back above the $46,500 and $48,000 resistance levels to start the recent recovery. The price is back above the $49,200 resistance level. There as a break above the 50% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. Besides, the bulls were able to push the price above the key $50,000 resistance zone. There is also a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC\/USD pair. The pair is now trading near $51,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $51,000 level and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. A clear break above the $51,000 resistance zone could open the doors for more upsides. The next key resistance is near the $52,500 level, above which the price could accelerate higher. In the stated case, the price could rise towards the $53,500 level. Fresh Decline In BTC? If bitcoin fails to clear the $51,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,200 level. The first major support is now forming near the $49,600 level and the trend line. A downside break below the $49,600 support may perhaps start a fresh decline. The next stop for the bears might be $46,000. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently above the 50 level. Major Support Levels \u2013 $50,200, followed by $49,600. Major Resistance Levels \u2013 $51,000, $52,500 and $53,500.<\/p>\n","protected":false},"author":67,"featured_media":463643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-478255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Reclaims $50K, Why 100 SMA Is The Key For Larger Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin is recovering and trading above $50,000 against the US Dollar. 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